PALO ALTO, Calif.--(BUSINESS WIRE)--First paragraph, third sentence of release should read: This brings the
total amount raised in this round to $57.5 million. (instead of This
brings the total amount raised in this round to $58.5 million.).

BitGo, the market leader in institutional-grade cryptocurrency security,
today announced the second close of its Series B funding round. New
investors, Goldman Sachs’ Principal Strategic Investments group and
Galaxy Digital Ventures LLC, a venture investment firm founded by
Michael Novogratz, join Valor Equity Partners, Craft Ventures, DRW, and
Redpoint Ventures. This brings the total amount raised in this round to
$57.5 million. The funding will support BitGo’s development of its $1
trillion crypto wallet.

“This strategic investment from Goldman Sachs and Galaxy Digital
Ventures validates both our market opportunity and unique position,”
said Mike Belshe, CEO, BitGo. “No one is better positioned than BitGo to
serve institutional investors who want to trade cryptocurrencies and
digital assets. That’s why we’re focused on figuring out what it takes
to secure a trillion dollars. The market’s not there yet but our job is
to be ready first."

“Greater institutional participation in the digital asset markets
requires secure and regulated custody solutions,” said Rana Yared, a
Managing Director of Goldman Sachs’ Principal Strategic Investments
group. “We are impressed by BitGo’s product, unique services, and the
management team. We view our investment in BitGo as an exciting
opportunity to contribute to the evolution of this critical market
infrastructure.”

“Institutional investors are gradually realizing that digital assets are
going to be a game changer, and they want to participate,” said Michael
Novogratz, Founder of Galaxy Digital Ventures LLC. “We have been
impressed with BitGo’s world class team, their deep technical
understanding of digital assets as well as their ability to deliver
institutional-quality products to investors. Our team is excited to
support BitGo as it enters into this next phase of growth.”

BitGo provides institutional investors with security, compliance, and
custodial solutions for blockchain-based currencies. Earlier this month,
BitGo announced the launch of BitGo Trust Company, the first qualified
custodian purpose-built for storing digital assets.

BitGo Quick Facts:

Largest processor of on-chain bitcoin transactions 15% of all global
bitcoin transactions, and $15 billion per month across all
cryptocurrencies

Supports more than 95 coins and tokens

More than $2 billion in assets in wallet

Chosen and trusted by hundreds of exchanges across more than 50
countries

About BitGo

BitGo is the market leader in institutional-grade investment services,
providing institutional investors with security, compliance, and
custodial solutions for blockchain-based currencies. BitGo is the
world's largest processor of on-chain bitcoin transactions, processing
15% of all global bitcoin transactions, and $15 billion per month across
all cryptocurrencies. The company has a customer base that includes the
world's largest cryptocurrency exchanges and spans more than 50
countries. BitGo is headquartered in Palo Alto, California, and has
offices in Sioux Falls, London, Singapore, and Tokyo. For additional
information, please visit www.BitGo.com.